Subros trades jubilantly on bagging contract worth around Rs 25 crore from Indian Railways
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Subros is currently trading at Rs. 503.75, up by 53.05 points or 11.77% from its previous closing of Rs. 450.70 on the BSE.
The scrip opened at Rs. 524.00 and has touched a high and low of Rs. 530.00 and Rs. 501.30 respectively. So far 161296 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 530.00 on 11-Dec-2023 and a 52 week low of Rs. 272.00 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 530.00 and Rs. 431.00 respectively. The current market cap of the company is Rs. 3323.76 crore.
The promoters holding in the company stood at 36.79%, while Institutions and Non-Institutions held 43.69% and 19.51% respectively.
Subros has bagged a contract worth around Rs 25 crore from the Indian Railways for the supply and commissioning of coach roof-mounted air-conditioners in a recently concluded tender. The company is already supplier of rail driver cabin air-conditioning systems to the railways and the focus on coach Air- conditioners is in line with its strategic direction to expand company’s business in railway electric mobility segment.
Subros, founded in 1985 as a joint venture public limited company with 36.79% ownership by Suri family of India and 20% ownership by Denso Corporation, Japan & 11.96% ownership by Suzuki Motor Corporation, Japan, is the leading manufacturer of thermal products for automotive applications in India, in technical collaboration with Denso.
